[{"id":100635,"question":"TC","choices":[{"text":"starts from origin","value":"A"},{"text":"not from origin","value":"B"},{"text":"is parallel to y-axis","value":"C"},{"text":"parallel to x- axis","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100634,"question":"MC is given by slope of","choices":[{"text":"TFC","value":"A"},{"text":"TC","value":"B"},{"text":"ATC","value":"C"},{"text":"AVC","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100633,"question":"Which is NOT a cause of shift in cost curves of a frim","choices":[{"text":"excise tax","value":"A"},{"text":"prices of inputs","value":"B"},{"text":"increase in productivity ","value":"C"},{"text":"price of product","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100632,"question":"Which statement is true","choices":[{"text":"ATC + AVC = AFC","value":"A"},{"text":"ATC + MC = AFC","value":"B"},{"text":"ATC + AFC = AVC","value":"C"},{"text":"AFC + AVC = ATC","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100631,"question":"All inputs can be varied in","choices":[{"text":"short run","value":"A"},{"text":"long run","value":"B"},{"text":"both periods","value":"C"},{"text":"non of the period","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100630,"question":"Unit cost is another name for","choices":[{"text":"MC","value":"A"},{"text":"AVC","value":"B"},{"text":"ATC","value":"C"},{"text":"AFC","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100629,"question":"As output increases","choices":[{"text":"MC curve firstly falls then rises","value":"A"},{"text":"MC firstly rises then falls","value":"B"},{"text":"MC continuously rises","value":"C"},{"text":"continuously falls","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100628,"question":"The shape of rectangular hyperbola is made by","choices":[{"text":"MC","value":"A"},{"text":"AFC","value":"B"},{"text":"AVC","value":"C"},{"text":"TFC","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100627,"question":"Excise tax is a part of","choices":[{"text":"fixed cost","value":"A"},{"text":"variable cost","value":"B"},{"text":"implicit cost","value":"C"},{"text":"in not a part of cost","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100626,"question":"In monopoly at various output levels","choices":[{"text":"AR = MR","value":"A"},{"text":"AR &lt; MR","value":"B"},{"text":"AR &gt; MR","value":"C"},{"text":"AR and MR curves are parallel","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100625,"question":"Under perfect competition MR and AR curves","choices":[{"text":"are the same","value":"A"},{"text":"are different","value":"B"},{"text":"intersect each other","value":"C"},{"text":"are parallel","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100623,"question":"When marginal revenue is zero, total revenue is","choices":[{"text":"maximum","value":"A"},{"text":"minimum","value":"B"},{"text":"zero","value":"C"},{"text":"decreasing","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100622,"question":"Which of the following is <i>NOT</i>a characteristic of perfect competition?","choices":[{"text":"free entry and exit of the firm","value":"A"},{"text":"demand curve of a firm is horizontal","value":"B"},{"text":"marginal revenue curve is horizontal","value":"C"},{"text":"individual firm can influence the price","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100621,"question":"Marginal revenue is always less than price at all levels of output in","choices":[{"text":"perfect competition","value":"A"},{"text":"monopoly","value":"B"},{"text":"both A and B","value":"C"},{"text":"none of the above","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100620,"question":"The major difference between perfect competition and monopolistic competition is","choices":[{"text":"unity of frims","value":"A"},{"text":"differentiated product","value":"B"},{"text":"rate of profit","value":"C"},{"text":"free exit and entry","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100619,"question":"Which is <i>NOT</i>true","choices":[{"text":"perfect monopoly does not exist in real world","value":"A"},{"text":"perfect competition does not exist in real world","value":"B"},{"text":"every monopoly is evil","value":"C"},{"text":"every firm wants to reduce competition","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100618,"question":"In the business world","choices":[{"text":"a firm working under perfect competition wants to become a monopoly","value":"A"},{"text":"a firm working under monopoly wants to become a competitive firm","value":"B"},{"text":"monopoly price is always higher than competitive price","value":"C"},{"text":"competitive price is always higher than monopoly price","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100617,"question":"In case of perfect competition in the market","choices":[{"text":"marginal revenue curve always slopes upward","value":"A"},{"text":"marginal revenue curve always slopes downward","value":"B"},{"text":"marginal revenue is always equal to average revenue","value":"C"},{"text":"marginal revenue is always less than to average revenue","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100616,"question":"In case of monopoly","choices":[{"text":"marginal revenue curve always slopes upward","value":"A"},{"text":"total revenue curve always slopes upward","value":"B"},{"text":"marginal revenue is always equal to average revenue","value":"C"},{"text":"marginal revenue is always less than average revenue","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100615,"question":"Which is a condition for existence of monopoly","choices":[{"text":"big size","value":"A"},{"text":"identical product","value":"B"},{"text":"absence of government taxes","value":"C"},{"text":"no close substitute","value":"D"},{"value":"E"}],"correctAnswer":4}]